Just a mention for the subject CD. The jumbo version is yielding 4.9% APY. Jumbos start at US$25K. Below that the yield is lower.

Some things to consider:

Alliant allows members to name the DAY of maturity for this Share Certificate. It's a really nice feature, and allows depositors to avoid having the certificate mature on a weekend.

This certificate pays interest monthly but you CANNOT withdraw the interest. The interest is declared and paid into the account and it compounds . . . but nothing is permitted to be withdrawn until your certificate matures. So this instrument is worthless to you if you need, for example, monthly income.

You cannot open this on-line regardless it appears possible when you visit the Alliant web site. You must download the new member application and download the share certificate application, fill both out following the instructions, and send them in with your check. There are also other less favorable funding options, which I did not use.

Finally, membership is straightforward. Just join your local PTA or PTO and you qualify. You can also join the NATIONAL PTA but that costs $25. For me to join my local PTO cost exactly $1.

To get the 14-digit account number: log in first, click on "additional features" on the left menu, then click "Instructions for Initiating Electronic Transactions"

No charge for incoming wire transfers

6 electronic (ACH) transfers out of the savings account per calender month for FREE. $29 fee per transaction after that.

eDepositPlus service (deposit checks at home by scanning) available after approximately one month of good standing. Max deposit $20k per day

Posters report that MoneyPass ATMs consistently provide surcharge-free Alliant savings and checking withdrawals even though the machine may not show up in the Alliant locator and CSR's tend to be unaware of this option (in the unlikely event there is to be a surcharge, ATM will provide advance warning allowing for transaction to be cancelled).

I have some jumbo CDs with Alliant and have been happy with them. Their share savings account is at 4.35% APY (average daily balance of $100+), and their HSA savings is at 5.15% APY (also average daily balance of $100+).

glxpass said: I have some jumbo CDs with Alliant and have been happy with them. Their share savings account is at 4.35% APY (average daily balance of $100+), and their HSA savings is at 5.15% APY (also average daily balance of $100+).

For those who are Alliant CU members...i have some questions for those who actively use their debit/atm card....I had been considering joining them because of their nice cd and share rates, but based on what i saw on their website (and talking to an Alliant CSR, who was very helpful and friendly, by the way)....it seems like they are very restrictive regarding atm usage...

According to the site (and CSR) though you have free atm access through the Coop Network (as far as not getting charged by the other bank) they only allow 8 free atm transactions per month (and that includes any atm transactions, such as balance inquiries, transfers and withdrawals at the atms) before a $1 per transaction fee kicks in by Alliant..

I was wondering if anyone had ever "tested" that to see if it is true....especially when using at Coop atms (they say that the fee kicks in whether it is a non-coop or coop atm).....Sometimes computers at banks or cu's are actually set up different then they say, that is why i was curious....

Of course, i am referring to non-alliant atms..i don't live in their home base area, so obviously, could not use Alliant CU's actual atm machines.....(they have no fees on their own atms, of course)....

Also, another thing i should mention is that their Online Application does not appear to work (it worked until the end and then didn't process) and they didn't seem to have much interest in getting it fixed..i mentioned it to the CSR and he didn't even say he would report it! Just told me to do the PDF application and mail it in!That did seem a bit weird....

Anyway, would appreciate your comments..how you like them, and especially about the atm fee business...that does seem quite restrictive to me...otherwise, it looks like they have a really nice set-up (except for that non-working Online Application...lol)

where did you find that part about joining the local PTA. I didn't see that on the link ..........only saw the part about joining the National PTA.If you start an on-line application and click continue, you'll see that option as one of the select employer groups, I believe. If you look at the PDF Enrollment Form that can be printed and sent in as an alternative, you'll see a box you can check for Local PTA/PTSA.

craig10x, many people, including myself, had problems with the on-line application failing. Ironically, even though I was told it failed, and ended up visiting a branch -- I realized after the fact that I had a local branch of Alliant -- to join the CU, later I found that the application had actually gone through! To make it worse, I tried the on-line application twice, failed twice, and ended up with an extra two memberships, which I cancelled. Despite the cancellations, I keep getting reminded that I need to send in signature cards for those memberships, or they'll cancel me! LOL! (I've been repeatedly told by CSRs to just ignore those warnings; eventually their automated system will "figure it out" or "give up.") My real account of course had the signature cards filled out when I applied in person.

I suggest you contact a CSR and confirm that your online application truly failed.

I don't have an ATM card, and can't help you there, but you do have an option of getting a checking account with them, where you can direct your CD funds to go upon maturity.

Especially about the application going in anyway, even though it said it failed (like mine...lol)..wow...yes, i guess i better check with them to find out if, indeed, they did actually get it (the customer service is available 7 days/24 hrs)...

The atms restrictions did turn me off a bit...though i was re-considering anyway, because of the high share and cd rates, and i do also have Schwab Investor Checking, so it's not like i don't have an unlimited free atms usage card available to me...though it would be nice if i could have used the coop atms for unlimited free usage with Alliant...

I guess the only way to be sure about the atm business, is to get the card and "test" it myself.It's quite possible that the atm fee is set up to kick in right after the 8 (even at coop atms) but perhaps not, and "field testing" yourself is the only sure way to find out...

PS: I had already joined the National PTA before doing the online application..so i probably shouldn't let the $25 membership fee go to waste (lol)....

If it turns out that it didn't go through, i suppose i could do the pdf file instead and mail it in.....

I say that, because i use to be with a CU that said (both on the website and CSRS) that a fee kicked in after the 10th transaction (even if done at COOP and ALLPOINT atms) but i "field tested" it, and found that the computer apparently did not add the charge if you went over 10 and were doing your transactions at COOP and ALLPOINT atms....

So, that is why i say these things need to be "field tested" by the customer to find out FOR SURE

By the way, they told me they were also adding on the surcharge free ALLPOINT network within the next few months....All great (except for their possible atm restrictions).....

I guess, either way, it might make sense for me to get the Alliant accounts....i would get about 1 1/4 percent higher that i am getting over at Schwab on the Savings, and even more if i lock in a jumbo CD....

where did you find that part about joining the local PTA. I didn't see that on the link ..........only saw the part about joining the National PTA.If you start an on-line application and click continue, you'll see that option as one of the select employer groups, I believe. If you look at the PDF Enrollment Form that can be printed and sent in as an alternative, you'll see a box you can check for Local PTA/PTSA.

Apologies for delayed reply. Ice storm --> no power for 20 hours.

Anyway, I found the local PTA/PTO option on the downloaded application. There was a checkoff box and I checked it. As I posted in the OP, I downloaded the application to become a member, filled it out, and mailed (actually overnighted) it in. Mailed it on a Thursday to score the double interest.

I pretty much have to agree with several other posters here:

The on-line application process might not give newcomers a happy outcome. In particular, the on-line application limits you to circa US$10K (not sure of exact amount). But since you must deposit US$25K to obtain 4.9%APY, well, the on-line appy is useless for that reason alone. I went all the way through the on-line process, only to discover at the end I needed a do-over with paper.

The application for the Share Certificate is a separate download and is filled out separately. However, the Share Certificate application is permitted to be mailed with your membership application, beneath the same cover. Also, I sent in only one check, which covered my required $5 Share Savings account and the full amount for my new Share Certificate account.

I also sent them a B&W copy of my driver's license and a copy of a recent power bill. It was not necessary, and it was not required, to send the power bill copy; but I'm a "belt and suspenders" kind of guy.

One other thing. Alliant funded my share account with $5 for free whan I applied in person. All I did was to write the checks for funding the CDs. I was also told that the on-line application would do the same. I suggest calling a CSR and finding out about that possibility.

Just curious...does Alliant's Online Banking have ACH Transfers available to other banks/cu's? Looking at their Online Banking demo, it looks like it does.....If it has, have you used it? How long do the transfers take? Any fee inbound or outbound?

glxpass said: One other thing. Alliant funded my share account with $5 for free whan I applied in person. All I did was to write the checks for funding the CDs. I was also told that the on-line application would do the same. I suggest calling a CSR and finding out about that possibility.

It's a good point you raise.

I also had seen this in previous posts from as early as January. I called them and asked about their willingness to save me five bucks. Rep said it was a promotion from an earlier time.

So if you cashed in on this last week, well, YOU DID GOOD!

Timing is everything. Either they lied to me or my timing was off for this one and it cost me five bucks. Still, with the 4.9 and given their willingness to let me set my maturity date, I can't squawk or bleat too loudly. I am satisfied.

When they open accounts on day of application receipt, which they did for me, and at the same time let you set your maturity date, well, they're letting you make extra money both on the way in and on the way out. What's not to like!

don't bother trying to use the online application, though...you will get the hard pull (that part works) but the application likely won't complete at the end...so you will be wasting a hard pull ...better to mail in the pdf application, instead.....

Hmm, upon browsing rates at their site, it seems one reason their rates are so much higher than market is that they haven't adjusted them since Jan. 25. Maybe they only change them quarterly or something. A screaming deal.

How do you know when sending in the application and check that you will get the 4.9 rate? What if the rates go down and you get stuck with lower rate? Is there a way to guarantee the 4.9% rate before you send in the money?

I believe a rating of 3 stars is considered good for a bank or cu......They are one of the largest CU's in the country, and have over 200,000 members....

As far as why they have the high rates...who knows? But they have had that reputation, even going back to the time they were known as the United Airlines Employee's Credit Union (which is what they were before they expanded their base).......

Oh, and yes, NCUA insurance is just like the FDIC insurance, for the Credit Unions...with the same up to $100,000 coverage per account....works exactly the same way.

fozzy said: How do you know when sending in the application and check that you will get the 4.9 rate? What if the rates go down and you get stuck with lower rate? Is there a way to guarantee the 4.9% rate before you send in the money?

Of course not..what bank or cu guarantees a rate won't go down? The only way you get a guarantee with any bank or cu, is if you get a CD...that locks a rate in...

Only assurance you do have, is the knowledge that they have a reputation for having a much higher rate then what the average interest rate is at in the current environment....

Rates are generally heading down now...so sure, their rate may go down too...but it will likely always be much higher then what the average is at the current time.....

As far as locking in the 4.9% CD Rate...well, CU's in general only make rate adjustments once a month (usually at the beginning of the month) so if you want to get in on it, mail in your application pronto...

fozzy said: How do you know when sending in the application and check that you will get the 4.9 rate? What if the rates go down and you get stuck with lower rate? Is there a way to guarantee the 4.9% rate before you send in the money?

It's an excellent question. Here's how I dealt with this:

First, the rep assured me they would be lenient if my deposit arrived just shortly after a rate change.

Second, I checked their rate page the morning of the day (last Thursday) I overnighted my deposit. The rate was holding at 4.9%. So I knew my deposit would arrive at worst, VERY shortly after any possible change.

But I acknowledge not all posters will have a deposit of sufficient size to justify the expense ($16.25) of Express Mail. My strong suggestion, should this be the case, is to use Priority Mail. It's much less expensive than Express Mail, but Priority Mail still connotes your sense of urgency and your desire for your deposit to reach them quickly. Priority Mail with Delivery Confirmation would be even better, and the added cost is minimal.

If you just use first class mail, well, you have my sincere wishes for a good outcome. I would not use First Class Mail myself.

I do not mean to rule out the other services here, Fedex and UPS overnight service. But for me these services are circa $10 more costly than Express Mail . . . . . and I am cheap. Also, in conversation with my Postmaster I learned my el cheapo Express Mail items go out on the nightly Fedex plane. So what my mail is traveling second cabin . . . it's the same plane!!

Finally, when using Express Mail, I always mail to the physical address anyway. The USPS prefers use of the PO Box number. I go with a physical address because I have the feeling it gives me stronger position, a stronger argument, if I must telephone the destination Post Office to inquire re delivery. I don't want to be told the item never was picked up . . . . I want my Express Mail item to be _DELIVERED_, if it's not picked up.

Now last week, even though I used the physical address, the PO put my item into the Alliant PO Box anyway. This was fine because it _WAS_ picked up and was signed for. Had it not been picked up though, for whatever reason, I wanted to be in the best position to FORCE delivery to Alliant's physical location.

Unrelated to the above:

It's getting more and more difficult to make money these days. My check to Alliant, which they did not process until VERY late in the day last Friday afternoon in Chicago, nevertheless cleared my checking account here (about 500 miles away and in a different Federal Reserve Bank district) early this (Monday) morning.

My checking account pays no interest, so last evening just after midnight I did a telephone Xfer of funds into my checking from my MM account (which does not have checks but DOES pay interest). Thus, I was able to make money on the float . . . but it took effort and forced me to do a late-night Xfer. The Xfer, incidentally, happened in real time. So my funds were in an interest-paying account all day Sunday, but only scant few minutes beyond that.

In speaking with the rep at my local CU, he mentioned he is seeing (primarily with the big NYC banks) SAME DAY debiting of accounts [e.g., you deposit check drawn on Bank #1 into Bank #2 . . and it clears Bank #1 the same day you presented it at Bank #2]. When (if) that starts to happen at the smaller institutions, the days of making money on the float will be history. Even with things as they are today, it's a tough slough.

Because my account-opener check to Alliant was processed SO late in the day last Friday, I thought it might take an extra day to clear and might not clear until tomorrow (Tuesday). I quite simply could NOT have been more in error. Lucky for me I had it covered today. Overdraws are not fun, and they are expensive.

Unfortunately, Priority Mail might be a scam, and might do nothing more than, as you say, connote the urgent nature of the mail. As one who has used Priority Mail many times, it isn't a pleasant feeling to consider this. The problem is that Post Office employees apparently have sales quotas, and are required to market their products. This makes it hard for them to be objective about the supposed benefits of Priority Mail. What is true is that only Express Mail has a guaranteed delivery time.

If I had to send something that was truly time critical via the USPS, I'd use Express Mail. I've found its online tracking feature very useful.

glxpass said: Unfortunately, Priority Mail might be a scam, and might do nothing more than, as you say, connote the urgent nature of the mail. As one who has used Priority Mail many times, it isn't a pleasant feeling to consider this. The problem is that Post Office employees apparently have sales quotas, and are required to market their products. This makes it hard for them to be objective about the supposed benefits of Priority Mail. What is true is that only Express Mail has a guaranteed delivery time.

If I had to send something that was truly time critical via the USPS, I'd use Express Mail. I've found its online tracking feature very useful.

It's fascinating reading, and you can form your own opinion on whether or not Priority Mail makes a difference.

Well, yer right. I live in one of the top performing postal districts in the USA, so Priority Mail has worked well for me. But I totally agree others might have a different outcome. Still, you acknowledged my key point, which I appreciate:

Use of Priority Mail says to the recipient that you (the sender) TRIED to get "whatever" to them quickly. It connotes a lack of dawdling and a seriousness of purpose. Also, the Priority Mail mailer has the same form factor as the Express Mail mailer. Sure, you and I are WELL aware of the critical differences. But the average bank employee might be less aware.

It's all a crap shoot. For posters here with smaller amounts to send, I was trying to offer an alternative with less cost than Express Mail. But I wasn't wanting to offer any guarantees, and I hope nobody read my post that way.

Also this final observation:

My best knowledge is that Priority Mail service is better and more reliable now than once it was. It IS very important with Priority Mail to boldly label your item with the Priority Mail stickers, or use a special Priority Mail box. Of course this is not an issue with mailings to a bank which go into the dedicated Priority Mail mailer, available free at the Post Office.

UPDATE: i WAS able to use the Online Application on another computer..apparently the "javascript" is somehow not set right in my home computer, which is why i couldn't get it to complete.....You still have to print and mail the signature card, though.

Some have mentioned that they got turned down using the Online Application...if that happens you can still apply by mailing in the pdf form, instead..I was probably "lucky" mine went through and was approved without a "hitch".

However, if you are putting a really large amount in the Jumbo CD, and apply online, you would need to get the share account (and checking if you want that also) and then transfer funds to share and buy the CD online from within the Online Banking.....

I agree! I opened online yesterday, and am already totally set-up in the online banking with bill payees on, links getting set-up to external banks, and everything (yes, they do have their own ach transfer system!)....and Customer Service is outstanding....both on the phone and by e-mail...In fact, i e-mailed them a while ago and got a reply in 15 minutes!Also Customer Service is 24/7 (unusual for a CU...probably because they are so big)....

Along with the excellent share and cd rates, they are a real standout....

i don't think they charge any fees for ach transfers (none listed in their fee schedule)...can't tell you yet as i am just establishing my "links" but perhaps goldsheet can comment (or someone else who has used it)....

update: no fees either direction (just confirmed my links and scheduled a few transfers)....it says it can take up to 3 days to complete...but will follow up to see how long they actually take (coming in and going out)....

They don't have any fees for ACH but there is a $10,000 a day limit on ACH's initiated from Alliant. Has anyone set up a link to Alliant from another bank account? I am trying with Fidelity but I'm not sure what my account number is.

you can call customer service at Alliant and they will give you the full account number...the checking account is 14 digits total, savings is a bit fewer digits.... and both revolve around the same number...they will give it to you on the phone.....

i believe someone mentioned that what you will need to do is move all the funds you want to use for the jumbo cd, into your new share savings or checking account with them....once the funds are in there, you can then open the Jumbo CD, through the Online Banking, for whatever amount you desire......

Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Members of our community may attach files to a post in accordance with the User Agreement. FatWallet is not responsible for the content, accuracy, completeness or validity of any information contained in any attached file. Files have *not* been scanned for viruses. Be especially wary of Excel files which may contain malicious content.

FatWallet coupons help you save more when shopping online. Use our Coupons Search to browse coupons and offers from thousands of stores, gathered into one convenient location.

Forums
As part of our FatWallet Community, you can share deals with almost a million shoppers in our forums. Forum content is generated by consumers for consumers. Share deals, money-saving tips, and more. It's FREE, fun, and addicting.

Support
Our customer experience team is here around the clock - real people ready to assist.